Online gambling generated $9.2 bln in 2004, driven mainly by poker

Gamblers lost $237 bln to gaming companies worldwide in 2004 and will be losing about $277 bln a year by 2008, according to investment bank Dresdner Kleinwort Wasserstein. Online gambling has grown to $9.2 bln globally since its birth in 1995 and is forecast to produce a 22% compound annual growth rate between 2003 and 2008, driven in particular by poker. Sports betting represents 45% of total online gambling spending with other gaming representing 32%, but both could be overtaken by poker by 2008, if not earlier.